Megatrends

The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.

Butter and Spreads in Guatemala

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Executive Summary

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PROSPECTS

High price of butter limits demand to affluent consumers, with sales benefiting from income growth

Butter and spreads products are considered an important ingredient in cooking in Guatemala, with higher prices typically meaning a better product quality. However, despite an improving economy, most consumers remain very price sensitive and so typically purchase margarine and spreads over butter in order to save money.

Healthier image of butter likely to be a focus of producers

Butter is seen to be the healthiest category thanks to its natural ingredients, with margarine and spreads receiving negative attention over the review period due to concerns over the presence of trans fats in some products and the use of artificial ingredients. As the health and wellness trend develops in Guatemala, the leading companies in butter are seeking to have cleaner and clearer labels in order to attract more consumers.

Polarisation in butter and spreads, with local players focused on price and international brands positioned as premium

Imported brands of butter and spreads are typically seen to be premium with their distribution largely limited to modern grocery retailers in urban areas. Due to their higher price these brands compete on quality, with their target audience typically being mid- to high-income consumers.

COMPETITIVE LANDSCAPE

Butter remains very consolidated due to category maturity

The competitive landscape in butter is very consolidated with the Anchor Mantequilla, Parma and Dos Pinos Mantequilla brands accounting for most sales in 2019. These three brands benefit from a strong reputation for quality although their high prices limits demand to mid- to high-income consumers.

Unilever retains dominance in wake of takeover

In July 2018 Unilever announced that it had sold its butter and spreads business to Upfield Holdings BV (GBO). This included the leading margarine and spreads brand in Guatemala, Mirasol, as well as the Mazola brand.

Innovation limited to adjustments to formulas and packaging

There were no significant new product launches seen in butter and spreads in 2019. Innovation is usually seen through brands improving their formulas to follow the latest diet trends, or in terms of producing more convenient packaging.

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